Acurx Pharmaceuticals, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 10, 2022 at 09:07 pm
Share
Acurx Pharmaceuticals, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported net loss was USD 3.54 million compared to USD 4.64 million a year ago. Basic loss per share from continuing operations was USD 0.32 compared to USD 0.46 a year ago. Diluted loss per share from continuing operations was USD 0.32 compared to USD 0.46 a year ago.
For the nine months, net loss was USD 8.83 million compared to USD 10.12 million a year ago. Basic loss per share from continuing operations was USD 0.84 compared to USD 1.27 a year ago. Diluted loss per share from continuing operations was USD 0.84 compared to USD 1.27 a year ago.
Acurx Pharmaceuticals, Inc. is a late-stage biopharmaceutical company focused on developing a new class of small molecule antibiotics for difficult-to-treat bacterial infections. It develops antibiotic candidates with a Gram-positive selective spectrum (GPSS) that block the active site of the Gram positive specific bacterial enzyme deoxyribonucleic acid (DNA) polymerase IIIC (pol IIIC), inhibiting DNA replication and leading to Gram-positive bacterial cell death. Its research and development (R&D) pipeline include antibiotic product candidates that target Gram-positive bacteria, including Clostridioides difficile (C. difficile), methicillin-resistant Staphylococcus aureus (MRSA), vancomycin resistant Enterococcus (VRE) and drug-resistant Streptococcus pneumoniae (DRSP). Its lead antibiotic candidate, ibezapolstat targets the pol IIIC enzyme. Phase II clinical data validate the efficacy of its lead antibiotic candidate, as well as pol IIIC as an appropriate bacterial target.